Real Estate Market Dynamics: Mortgage Loan Rates Decline to 6.79%
The latest data shows that with a substantial increase in new listings, mortgage loan rates have dropped to 6.79%, offering potential homebuyers more budget space. However, despite the decrease in rates, they still remain at a relatively high level, close to 7%, which may influence homebuyer decisions. Sam Khater, Chief Economist at Freddie Mac, highlights ongoing market concerns about cooling inflation and hopes that rates will further decrease to stimulate the housing market.
Mar 29, 2024